The Prime Minister of Uganda, Rt. Hon. Ruhakana Rugunda on 27th October 2015, laid the foundation stone for the construction of a multi-billion complex in honour of the Governor of Bank of Uganda, Prof. Emmanuel Tumusiime-Mutebile at Makerere University Private Sector Forum grounds. Hon. Ruhakana Rugunda represented the President of Uganda, His Excellency Yoweri Kaguta Museveni.
Prof. Emmanuel Tumusiime-Mutebile also unveiled the artistic impression for the Mutebile Centre of Excellence at the same grounds. The Centre of Excellence, estimated at USD 20 million is a tribute to Prof. Mutebile’s commitment to national and international development. The Mutebile Centre of Excellence for Private Sector Development will be a hub of information, research, innovation and knowledge transfer. To be developed with the aim of promoting projects meant to enhance community development and job creation, the centre will also house Prof. Mutebile’s biography including profiles and documentaries of his life achievements as well as his writings and publication among others.
The distinguished Prof. Emmanuel Tumusiime Mutebile Chair in Monetary Policy, Banking and Finance will be hosted by Makerere University School of Economics under the College of Business and Management Science (COBAMS). The Chair estimated at USD 5 million will be occupied by a distinguished Professor with a task of building Programmes and mobilising resources to sustain and uphold it. According to the Vice Chancellor, Prof. John Ddumba-Ssentamu, the first Chair holder will be identified and accredited by Professor Tumusiime Mutebile.
The Vice Chancellor described the Mutebile Chair and Centre of Excellence at Makerere University as a golden opportunity for the institution to associate with a person of broadly valued expertise and rich ideas in monetary Policy reforms, banking and finance. He added that Prof. Tumusiime-Mutebile’s rich Knowledge shall widely be shared in academia to create a positive impact on socio-economic transformation of Uganda.
“His knowledge and expertise can be harnessed to further inform policy formulation not only in Uganda but the region at large, as we strive to increase socio-economic development towards attaining the national Vision 2040. Makerere University therefore takes the pride in celebrating Prof. Tumusiime-Mutebile’s prominence and reputation at both the national and international levels,” he said.
In his speech read by the Prime Minister, Rt. Hon. Ruhakana Rugunda, H.E Yoweri Kaguta Museveni, applauded Prof. Tumusiime-Mutebile as a brave man who embodies the true spirit of Nationalism with a rich history of providing exceptional service and being true to his word. He commended Makerere University for immortalizing Professor Mutebile through the Endowed Chair and Centre of Excellence.
“This is a landmark occasion as we count down to the centenary celebrations of Makerere University in 2022. For it is Makerere University that has produced many pan-Africanist Presidents and Prime Ministers in addition to Professor Tumusiime-Mutebile. I am proud of the breakthroughs the University has made in Science and Technology and I encourage you to stay on course to advance your vision in illuminating Makerere University’s capabilities on the global scene,” he said.
“I also commend all the development partners who have invested in the development of the education at Makerere University since its inception. Makerere has seen a series of developments, innovations andreforms. I salute the partnerships that have been very vital in building capacity,” he added.
As part of the day’s proceedings, the Ag. Principal, College of Business and Management Sciences (CoBAMS), Dr. Eria Hisali read the Citation of Excellence detailing Prof. Tumusiime-Mutebile’s academic excellence at all levels, illustrious career as well as his tremendous contribution to national development.
The Deputy Vice Chancellor (Academic Affairs), Dr. Okello Ogwang highlighted Prof. Tumusiime-Mutebile academic and life achievements in the Oratory of Excellence. “In spite of his heavy commitments in the fiscal industry, Prof. Tumusiime-Mutebile has demonstrated his love for promoting education by participating in actual teaching and supporting various educational institutions within and outside Uganda,” Dr. Okello Ogwang remarked. He also applauded Prof. Tumusiime Mutebile for winning numerous honours, awards and tributes both locally and internationally.
Prof. Emmanuel Tumusiime Mutebile was installed on a symbolic Chair by the Makerere University Acting Chancellor Prof. John Ddumba-Ssentamu amidst applause from Makerere University staff, Bank of Uganda team, family, friends and well-wishers. In his acceptance speech, Prof. Tumusiime Mutebile said holding the Chair of Monetary Policy, Banking and Finance, has opened another window of opportunity for him to serve Makerere University and the people of Uganda.
“Uganda has made impressive strides in both the economic and political areas during the last 30 years. We have overcome those painful days of our history and moved on. I am proud to have been associated with the policies that have brought about the restoration of the economy,” he said.
Commenting on the historic moment and installation, Prof. Tumusiime-Mutebile who was also a Guild President in 1972 commended Makerere University-his alma mater-for the achievements over the years when he said, “Today and particularly this occasion, presents one of the happiest moments in my life. This is not because distinguished honors are being bestowed on me. It is an occasion to recognize and celebrate the many things that Makerere University, the Government of Uganda and the Makerere University Private Sector Forum have achieved over the last 45 years since I was a student at Makerere University. It is also an occasion to thank all those at Makerere University and in the Private Sector Forum for conceiving this new initiative of the Mutebile Chair and Mutebile Center of Excellence.”
According to the Chairperson Makerere University Council, Eng. Dr. Charles Wana-Etyem, plans for the establishment of Prof. Emmanuel Tumusiime-Mutebile’s Chair in Monetary Policy, Banking and Finance and the Mutebile Chair of Excellence started way back in 2007 when it was first conceived by Makerere University Private Sector- Forum (MUPSF). The idea was approved by the University Council with the aim of bridging the University-Industry divide in socio-economic development.
Born on 27th January 1949 in Kabale District– South Western Uganda, Professor Emmanuel Tumusiime Mutebile Kirenga Baryabota joined Makerere University in July 1970 for a Bachelor of Arts Degree in Economics and Political Science. He was later elected Students’ Guild President which eventually brought him in conflict with the then hostile political environment under President Idi Amin Dada. He faced persecution and had to flee the country to complete his Bachelor’s degree course at Durham University, UK where he graduated with a Second Class Honors Upper Division in June 1974.
His undergraduate dissertation was outstanding that it won the first prize in Economics at Durham University. Subsequently, he successfully completed the first year of his postgraduate studies in Economics in June 1975 and embarked on Doctoral studies by research at Oxford University. As part of his PhD studies, Mutebile conducted field work in Tanzania while at the same time teaching at the University of Dar-es-Salaam. However, the outbreak of Uganda`s Liberation War of 1979 interrupted his studies after which, he returned to Uganda and started on the process of rebuilding the then shattered economy. On 14th December 2006, he was appointed Honorary Professor by Makerere University.
His academic excellence is attested by:
A Tutorial Fellow at Balliol and St. Peter`s College, Oxford University, 1974 – 1977.
A Visiting Lecturer at Furnham Centre for International Briefing – 1977.
A lecturer of Industrial Economics at the University of Dar-es-Salaam 1977 – 1979.
Several books authored in the fields of economic reforms, monetary policy and banking.
Published pamphlets and booklets in the fields of banking and fiscal reforms.
Contributed numerous articles in periodicals, magazines and newspapers.
Makerere University has noted the serious concerns raised publicly through social media video posts regarding the conduct of a member of staff. We recognise that such matters can cause profound distress and that it takes courage to speak about experiences of harm. The University takes all matters relating to the safety, dignity, and welfare of its students, staff, and visitors with the utmost seriousness.
Makerere maintains a zero-tolerance policy toward sexual harassment, gender-based violence, and any form of misconduct that threatens the well-being of members of the University community. Formal reports of sexual harassment are handled through established procedures with the seriousness they deserve.
The University has deliberately put clear policies and procedures in place, including the Safeguarding Policy, the Policy and Regulations Against Sexual Harassment, and staff disciplinary processes. These are designed to ensure that any formal complaints received are investigated thoroughly, fairly, and confidentially, while upholding the principles of natural justice and due process for all parties.
Students, staff, and visitors who have concerns are encouraged to make a formal report through the available channels, including the Gender Mainstreaming Directorate, the Office of the Dean of Students, or MakSafeSpace (the University’s online platform that facilitates anonymous and confidential reporting). Professional support services remain available at the University Counselling and Guidance Centre for those who need them.
Makerere University remains committed to fostering a safe, respectful, and inclusive learning and working environment for all. We will continue to strengthen our systems for prevention, reporting, and accountability.
Dr. James Magara, a futurist and Chairman of Yobel Biashara Initiative stood before an audience at Makerere University on September 30, 2026, and projected a map of the world. It was upside down.
He asked the room if anything was wrong, and as the audience hesitated, he revealed that “in 1569, the Flemish cartographer and geographer whose name was Gerardus Mercator, developed a map now known as the Mercator projection. It represented the curved shape of the Earth on a flat map.” He simplified it saying, the Mercator map accurately shows direction and local shape, but it distorts the size of places, especially those that are located near the poles. He pointed out that the map distorts the size of continents, making Greenland appear as large as Africa, when in reality, Africa is 14 times larger.
Fixing the map was easy and free, it took one vote, Dr Magara said, referencing the recent United Nations resolution that encouraged accurate area projections. Indeed fixing the map was easy but the actual material weight of this continent and its institutions that run within the world economy is why dialogues like this exist. “Until we (Africa) fund our own institutions ourselves, the continental agenda will keep belonging to whoever writes the check.”
This and more were part of Dr. Magara’s opening remarks while delivering a keynote at the YOBEL Biashara Conference 2026 hosted at Makerere University School of Public Health Auditorium.
Ms. Doreen Katangaza shakes hands with Dr. James Magara after his keynote address.
The event, was co-hosted by the CASTLE Think Tank, YOBEL Biashara, and Makerere University under the theme: “Africa’s Agency in an Era of Geopolitical Change: Trade, Investment and Economic Transformation,” brought together a diverse assembly of policymakers, academics, and private sector leaders.
Representing Dr. Adam Mugume the Chief Guest who could not make it due to unavoidable circumstances, Ms. Doreen Katangaza, a researcher and economist at the Bank of Uganda (BoU) delivered his remarks while reflecting on Dr. Magara’s keynote.
She explained “what agency means in economic policy, is not isolation, it’s not withdrawal, but the capacity to choose, to negotiate, and to act.”
She emphasized that relying on external factors or rhetoric is insufficient for long-term transformation. Instead, she suggests that agency is defined by internal strength and the ability to act independently. As she states, “Africa’s agency will not only be secured by rhetoric. It will be built through capabilities. The capability to produce, the capability to finance development, capability to manage shocks and above all, capability to make choices based on our own long-term interests and people’s priorities.”
University Secretary-Mr. Yusuf Kiranda (L) and other attendees interact with Dr. James Magara at the Conference.
Ultimately, Ms. Katangaza aligned with all speakers mobilising for a holistic approach involving government, the private sector, and academia to build these foundations. She noted that the Bank of Uganda is committed to harmonising policies and payment systems to support this, but success depends on whether these ideas translate into tangible outcomes, such as stronger institutions and resilient economies, when stakeholders reconvene in the future.
She concluded by congratulating the YOBEL Biashara Initiative, CASTLE Think Tank, and Makerere University for organizing the forum “a platform for thoughtful discussion about Africa’s economic future.” She thanked all the speakers, all panelists, and participants for their valuable contribution and attention during her communication and entire event.
Cost of Institutional Dependence to the Continent
Dr. Magara’s address was his critique of the continent’s institutional funding. He pointed out that member states currently fund only 24% of the African Union’s own program budget. Charity begins at home, he stated. With 76% out of every dollar the African Union spends coming from partners outside the continent. He argued that this dependency is self-inflicted and fixable.
He advised that if we genuinely want a technology-creating continent, the work has to start in the primary school classroom, not in the university innovation hub. He added, while also highlighting that Africa’s research and development spending sits at 0.4 percent of GDP, far below the world average.
Dr. James Magara.
Dr. Magara also addressed the implementation gap that has affected the continent for decades. He suggested that the failure to execute on well-crafted strategies is not just a capacity problem, but a result of selfish interests within. Some people are benefiting from the way things are, he explained. So, if they change, they will lose the benefit.
As a futurist and leadership strategist, Dr. Magara used his keynote address to also dismantle some of the comfortable narratives often repeated in policy circles. He challenged the audience to reconsider the concept of agency, arguing that choice only becomes agency when backed by the capacity to act. He pushed back against the common narrative that Africa’s youth population is automatically a demographic dividend.
A youth bulge without a falling birth rate, without matching job creation is not a dividend, he warned. It is a dependency burden wearing dividends lobbying.
Dr. Magara said, “if you ask any panel anywhere on this continent why Africa has not industrialised, you will get the same three answers almost every single time. Not enough skills, not enough infrastructure, not enough finance. And all of this is true. All of it is real. None of it should be dismissed.” But none of those three answers explains a much stranger fact sitting right in front of us, “why have we been writing almost identical strategy documents, making almost identical recommendations for 30 years plus.”
Dr. James Magara presents his keynote address.
He urged the room to be honest about the reality of the labor market, noting that every year, between 10 and 12 million Africans enter the labor market, while economies create roughly three million formal jobs. That gap cannot close itself, he stated. And it does not close by wishing it away in a policy document.
Engagement with Dr. Magara’s Keynote
The keynote featured significant engagement, primarily from Professor Pamela Mbabazi, Ms. Allen-Sophia Asiimwe, and Dr. Fred NK Muhumuza, who offered diverse perspectives that somewhat aligned with, and at certain points challenged his arguments.
Professor Pamela Mbabazi, Executive Chairperson of the National Planning Authority (NPA), offered a government perspective on the issues raised. She acknowledged the disconnect between some policy and deep thinking. Siding with Dr. Magara, there is a visible rush into making decisions without having deep thinking and engaging with amazing think tanks like YOBEL, CASTLE, she admitted.
Prof. Pamela Mbabazi.
She called for a more intentional approach to policymaking, urging think tanks to collaborate more closely with government bodies like the NPA. She explained that countries like China did not get to where they are by accident, they were intentional to include their think tanks into policy making and no decisions were made haphazardly.
Professor Mbabazi suggested that as a country and continent we can have our think tanks drive policy if we want to build a five-hundred-billion-dollar economy by 2040.
She concluded her submission joining Dr Magara in questioning whether Africa could credibly speak of strategic agency when the institutions through which agency is exercised remain substantially dependent on financing from elsewhere.
Allen Sophia Asiimwe the Deputy CEO/Chief of Programme at trademark Africa addressed the conference via zoom, and expressed she was happy “when Dr. Magara started off with a question on the size of Africa on the map and in reality, it matters.”
Ms. Allen Sophia Asiimwe contributes virtually.
However, she challenged some of his assertions on financing. She requested to push back on this very strongly saying “If you look at how Africa is made up, a lot of our countries are still very poor,” arguing that the continent’s economic reality as of now requires external support.
With that said, she shifted the focus from external funding to internal inefficiencies, agreeing that Africa is sabotaging its own growth through non-tariff barriers, noting, “we are self-sabotaging. If we opened up for trade, if we allowed goods to cross the borders, we may actually make a big difference,” Ms. Asiimwe discussed.
Dr. Fred Muhumuza a prominent Ugandan development economist, senior lecturer, and policy advisor also engaged with the views on economic planning and indicators.
He agreed that think tanks are an issue, and that they must be embraced for the better. We must think about our problems, talk about them, and see what sense we make to ourselves.
Dr. Fred Muhumuza.
Dr. Muhumuza questioned the premise that the source of financing is the primary issue, suggesting that the quality of the plan being financed is more critical.
Major General Gregory Mugisha Muntuyera, added his voice to Dr Magara’s arguing that beyond map size, Africa’s development is hindered not by a lack of potential, but by a mindset of dependency. Drawing a contrast to the conditioning of elephants in India mastered by small humans.
The General stated, “we have got the knowledge, we have got the qualifications, but we have been conditioned.”
He emphasized that true progress requires discipline for ” without this nothing is going to happen” regardless of how many conferences are held.
The Cost of a Broken System
Ms. Eseza Mulyagonja, a member of the YOBEL Biashara board, as one of the opening speakers, issued a strong reminder of the urgency required in addressing the continent’s challenges.
Ms. Mulyagonja shared a story so dear to her, of a young boy in a village who died after being bitten by a snake because he was not in school, for his fees were unpaid. She used this to illustrate the human cost of broken systems and advised that we do not have to wait for calamity to strike, since this is a story that is so common.
Ms. Eseza Mulyagonja.
She said as a continent, we have got to confront these things saying if we do not bring these stories close to home, we will not be propelled to change the direction for the better.
MAKERERE-CASTLE-YOBEL A PARTNERSHIP FOR AFRICA’S TRANSFORMATION
Representing Professor Sarah Ssali, the First Deputy Vice Chancellor in charge of Academic Affairs, Professor Edward Bbaale the Principal College of Business and Management Sciences, emphasised the institution’s commitment to being an active partner in national and continental transformation acknowledging the global economic order is undergoing profound change, characterised by geopolitical realignment and an accelerating energy transition.
Prof. Edward Bbaale.
“These questions cannot be settled in just one conference. These are conversations that we’re going to have to continue even after here. So once again, I thank our chief guest, our keynote speaker, our discussants, our partners, the organizers, and every one of you who have made this time a meaningful time spent and made meaningful contributions to Africa’s future.
“The important question, therefore, is not simply how Africa will be affected by these changes, but how Africa will shape them”, Professor Bbaale remarked.
Crowning the remarks from the host institution, Makere University Chairperson of Council Dr. Lorna Magara appreciated everyone that was present for this noble conversation.
She said, “I trust that each of us leaves today with at least one idea that we are going to execute for the good of our continent.”
Dr. Lorna Magara shares a light moment with other dignitaries during the Conference.
She proposed that the first item on the agenda of the YOBEL Biashara 2027 conference should be looking at the scorecard of what has been done to see that Africa increasingly moves from being a passive recipient of global economic decisions to becoming an active participant in shaping the rules, institutions, and partnerships that determine its development direction.
Makerere University confirms with deep sadness the death of Kabuye Kelvin Charles, a second-year student pursuing a Bachelor’s degree in Architecture at the College of Engineering, Design, Art and Technology (CEDAT).
On the early morning of 28th September 2026, the body of the deceased was discovered on campus inside the fence that houses the MTN mast opposite the University Library. University security promptly reported the matter to Makerere Police Station. Police officers responded immediately and have handed over the investigation to the Wandegeya Homicide Desk and Scene of Crime Officers.
The cause of death is not known at this time; however, a post-mortem examination has been requested, and investigations remain ongoing. The University is fully cooperating with the Uganda Police Force.
The University Management extends its heartfelt condolences to the family, friends, and classmates of the late Kabuye Kelvin. We share in this profound loss and pain.
Members of the University community who may be affected by this incident are encouraged to seek assistance. Counselling and psychosocial support services are available to all students and staff through the University Counselling and Guidance Centre. Makerere University remains committed to the safety and well-being of its students and staff.
We will provide further updates as official information becomes available from the investigating authorities.